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5 Steps to Becoming a Master Investor

  1. Diversify – Diversification is a powerful investment tool that helps you reduce the risk of holding aggressive investments. Diversifying simply means that you should hold a variety of investments that do not move in tandem in various market environments (for instance bull and bear markets). You do not need 50 different funds in order to diversify. You can diversify with five, at the most 10, mutual funds or ETFs.
  2. Keep fees to a minimum – For both mutual funds and exchange traded funds you can look at the 'total expense ratio. "The best case is an expense ratio less than 1%, and certainly no higher than 2%. have to watch out for "sales load".
  3. Be aware of your time frame – Match your time frame to the investment. For example, for money that you expect to use within the next year, focus on low-risk investments such as money market funds, certificates of deposit or US government bonds.
  4. Ignore the "gurus" – Pay no attention to the fortune-tellers and prognosticators who are paraded on CNBC. Predicting the future is impossible. If anyone could actually predict future prices of the stock market they certainly would not be telling you about it!
  5. Start Now – If you have not started putting away money to invest, start now! Open an investment account today and setup automatic monthly contributions. The younger you are, the more money you will have come retirement. The magic of compound interest multiplied by time is powerful. So, do not wait. Start investing today!

Read More…. by James Fowlkes

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The post 5 Steps to Becoming a Master Investor appeared first on Note Investing Seminars.

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